Corum invests €26M in logistics centre in Famalicão

Corum invests €26M in logistics centre in Famalicão

The French company Corum Investments has acquired a logistics centre in Ribeirão, a town and parish in the municipality of Vila Nova de Famalicão, through a long-term lease agreement signed with Olicargo.

This acquisition, made through Corum Eurion, an ESG-certified fund, represents an investment of around 26 million euros by the management company.

Corum Investments thus strengthens its presence in Portugal, increasing the number of commercial buildings it owns in Portugal to 16. "This investment is completely in line with our strategy of looking for opportunities that guarantee attractive returns for our investors," says Miguel Costa Santos, Country Manager of Corum Portugal.

Corum Eurion's new asset is leased to Olicargo and has a 19-year non-renounceable contract, which allows Corum to offer, taking into account the purchase price, an initial gross return of around 8 per cent indexed to inflation to the subscribers of this fund made available on the national market only to professional investors.

The logistics centre has a total land area of 67,000 square metres, of which around 34,000 are covered, with positive and negative cold storage areas, 72 unlevelled quays and a ceiling height of around 13 metres. The asset also has parking for 185 cars and 36 lorries and is located in a consolidated industrial area, 30 minutes from Porto.

"We continue to diversify our portfolio in Portugal with the addition of our second logistics asset in the country, a sector that has benefited from the growth of e-commerce and where we expect rental growth due to growing demand and a shortage of assets on the market," emphasises Miguel Valente Bento, Corum's investment manager for Southern Europe.

He adds that "this is a versatile building with high quality standards (namely hot and cold areas, high ceilings and 72 unloading bays) originally built for Lidl, which, after several remodellings, now allows Olicargo to serve the north of Portugal".

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